Market Overview
Stocks close higher – Major equity indexes closed higher on Tuesday. Small- and mid-cap stocks trailed large-cap stocks*. Sector leadership was narrow, with technology and communication services higher, and with financials, utilities and industrials leading to the downside.
Today’s big news probably is about Apple. Apple’s AAPL stock spiked +7% today to fresh 52-week highs after the renowned iPhone maker announced a partnership with OpenAI to integrate ChatGPT into its iconic product line and services.
With that being said, investors may certainly be wondering if it’s time to buy Apple’s stock with its operating system getting an innovative makeover. Or should we?
Market Indexes and Winners
Good Stock Set Ups
STOCK SETUP: BORR @06/11/2024
| Ticker | BORR, Borr Drilling Ltd | Note |
| Last Price | 6.60 | |
| Buy | 6.60 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 7.26 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 6.39 | |
| Reward/Risk | 3.14 : 1 |
Above is the summary of one of our Stocks Buy Setup.
More Technical Status for BORR @06/11/2024
| ATR (14) | 0.26 | Stop can be set at 1xATR below recent low |
| Beta | 3.10 | Beta measure of a stock’s volatility in relation to SP500. Greater than 1.0 means more risky than SP500 |
| RSI(14) | 58.76 | Greater than 50 means bullish. Crossing above 30 in correction is a good buydip too |
| SMA20 | 5.36% | Distance to SMA20 |
| SMA50 | 12.33% | Distance to SMA50 |
| Recommendation | 1.40 | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. BORR is one of them. Let’s take a look at this stock’s chart (The first chart below is a live chart).
STOCK SETUP: HIMX @06/11/2024
| Ticker | HIMX, Himax Technologies ADR | Note |
| Last Price | 6.98 | |
| Buy | 6.98 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 7.68 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 6.55 | |
| Reward/Risk | 1.61 : 1 |
Above is the summary of one of our Stocks Buy Setup.
More Technical Status for HIMX @06/11/2024
| ATR (14) | 0.20 | Stop can be set at 1xATR below recent low |
| Beta | 2.24 | Beta measure of a stock’s volatility in relation to SP500. Greater than 1.0 means more risky than SP500 |
| RSI(14) | 73.03 | Greater than 50 means bullish. Crossing above 30 in correction is a good buydip too |
| SMA20 | 7.30% | Distance to SMA20 |
| SMA50 | 21.91% | Distance to SMA50 |
| Recommendation | 2.00 | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. HIMX is one of them. Let’s take a look at this stock’s chart (The first chart below is a live chart).